Renowned investor Ross Gerber has cautioned Keith Gill, better known as ‘Roaring Kitty’, about his short-term position in GameStop Corp. (NYSE:GME).
What Happened: On Tuesday, Gerber took to X, formerly Twitter, to caution ‘Roaring Kitty’ about his recently revealed position in GameStop. “Kitty better be careful exposing such a short term position with so many enemies. Where would he get all the money… he's got to sell the options soon. $gme”, Gerber tweeted.
This warning comes in response to ‘Roaring Kitty’s’ disclosure of a massive $115.7 million stake in GameStop, including $65.7 million in call options expiring on June 21, as reported on the r/SuperStonk subreddit. The revelation has stirred up the market, leading to a surge in GameStop’s stock.
Why It Matters: Earlier on Monday, Gerber had said on the same platform — “Roaring Kitty 🐱 😆! Come on kids the pump and dump is real. $GME.”
Gerber’s latest cautionary tweet follows his previous post expressing concerns about GameStop’s surge following ‘Roaring Kitty’s’ revelation. He had stated, “Something smells stinky in the Kitty litter,” hinting at potential market manipulation.
Short-seller Andrew Left also raised doubts about ‘Roaring Kitty’s’ actions, questioning whether someone else was operating undercover. Meanwhile, Massachusetts' top securities regulator is scrutinizing Gill’s recent trading activity for potential manipulation.
Price Action: GameStop shares closed 5.4% lower at $26.50 in the regular session on Tuesday. The shares were seen trading 0.9% higher at $26.73 in the after-hours session, according to data from Benzinga Pro.
Photo Courtesy: Shutterstock.com
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
